Sat 28 March 2020
Exiting your practice and maximising your outcome
Learn how to prepare your practice for sale to optimise the result in price, terms and compatibility with the purchaser.
When it’s time to sell their practice, many dentists make decisions poorly due to a lack of knowledge and understanding of the impact of the choices being made. Many would-be sellers delay putting their practice on the market as they don’t know what to do next and are afraid of a loss of their identity. Others put their practice on the market with little understanding of the value of what they are selling.
This session will show you how to:
- Identify your likely exit strategy and buyer profile
- Understand the processes and steps involved in a sale
- Identify changes you can make to your practice to make it easier to sell and more attractive to buy
- Understand the legal agreements and complexities involved in the sale of a dental practice.
- Exit planning – how to get your practice ready to sell
- Various exit strategies, including walk-in walk-out, the incremental sale, sell and stay on, and grandfather options
- Succession planning – what you need to do now to prepare (and how to manage the transition to retirement)
- Valuing your practice – what is the value in your dental practice and how to quantify the value
- Legal agreements
- Effective strategies for transferring patients effectively from seller to buyer
- What to do post-sale – volunteer dentistry, locum, work part-time or just retire?
- Understanding what you are selling
- Accountant considerations of exit planning – how to prepare your accounts for sale and tax implications of the sale
- Valuing your practice – what is the value in your dental practice and how to quantify the value.
Presented by Simon Palmer (Practice Sale Search), Mark Fitzgerald (Meridian Lawyers) and Albert Gigl (MW Partners).
Proudly supported by